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France: Speed Up Haiti Debt Cancellation

France’s Finance Minister said she has asked creditors of earthquake-ravaged Haiti to speed up plans to cancel its debt.

Christine Lagarde said she “made contact with all Paris Club members so we accelerate the cancellation of the government of Haiti’s debt.”

France is president of the Paris Club of creditor nations, an informal group of industrialized countries. Ms. Lagarde said Friday she is also asking nonmembers Venezuela and Taiwan, who are owed significant amounts by Haiti, to help in debt reduction.
France was owed 58 million euros ($84 million), of which four million euros was already canceled. The rest was due to be canceled in stages over several years until 2014. This will now be sped up.